http://www.boston.com/news/nation/washington/articles/2003/11/17/us_congress_panel_set_to_vote_on_energy_bill/US Congress Panel Set to Vote on Energy Bill
By Tom Doggett and Chris Baltimore, 11/17/2003
WASHINGTON (Reuters) - Congressional negotiators were scheduled to vote on Monday on legislation that would update U.S. energy policy and provide $20 billion in tax incentives to boost oil, natural gas, coal and nuclear production and prevent future power blackouts
http://www.boston.com/news/nation/washington/articles/2003/11/17/democrats_to_seek_changes_in_energy_bill/Democrats to Seek Changes in Energy Bill (before today’s vote)
WASHINGTON (Reuters) - Congressional Democrats said on Monday they want to amend a Republican energy bill in order to outlaw electricity market manipulation, protect consumers from higher utility rates caused by mergers, and ensure oil companies pay full royalties for drilling on federal lands. Passage of the energy bill, which includes about $23 billion in tax breaks (Democrats claim the bill's total cost could top $115 billion over the next decade - Two-thirds of the $23 billion – 14.4 billion- in tax breaks go to the oil, gas and coal industries, and only about $1.5 billion in incentives is for energy conservation and efficiency programs.) is a top priority for the Bush administration.<snip>
The legislation fails to limit utility mega-mergers and ban the kinds of wholesale electricity manipulation conducted by Enron Corp. and others that contributed to California's energy crisis, Bingaman said. He also said the bill in its current form would weaken clean air regulations.
The bill offers billions in tax breaks for oil, natural gas, coal and nuclear industries, which Democrats oppose. However, Republicans included several measures with bipartisan support, such as electric reliability standards that would prevent a repeat of the August blackout that left 50 million people in the dark.<snip>
* Doubling ethanol production blended into gasoline to 5 billion gallons (19 billion liters) by 2012;
* Easing royalty payments for oil and natural gas drilling on federal leases in the Gulf of Mexico;
* Offering federal loan guarantees to build a $20 billion pipeline to ship Alaskan natural gas to the lower 48 states;
* Granting tax breaks for new nuclear power plants;
* Extending tax credits to promote more electric generation from wind, solar and other renewable sources.
(One of the most contentious measures would shield makers of fuel additive MTBE from product liability lawsuits retroactive to Sept. 5. That date would eliminate most cases already filed, including one by New Hampshire's attorney general.)<snip>